Federal Reserve says US economy to continue with weak recovery; Bernanke says economy “still years away” from full employment
Jun 23rd, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Federal Reserve said on Wednesday that the US economy is likely to continue with a weak recovery this year and next. Ben Bernanke, chairman of the Fed, said the economy is “still years away” from what is considered a level of full employment, meaning an unemployment rate in the range of 5%. It stands now at 9.1%.